This life insurance policy can cover you for Parkinson’s

There are around 145,000 people in the UK who are already living with Parkinson’s, and every hour, two more people are diagnosed.

Whilst there isn’t yet a way to prevent a diagnosis of Parkinson's, there is a life insurance policy that could cover you for Parkinson’s and other critical illnesses.

With this cover in place, if you found yourself faced with Parkinson’s, you could benefit from a tax-free lump sum which could make all the difference to you and your family if illness was to suddenly strike.

What is Parkinson’s disease?

Parkinson’s is a neurodegenerative condition in which parts of your brain become increasingly more damaged over the years.

What are the symptoms of Parkinson’s disease?

When it comes to Parkinson’s, it can be hard to spot the signs. But these 10 early warning signs should be on your radar:

• Small handwriting
• Loss of smell
• Trouble moving or walking
• Tremor
• Trouble sleeping
• Constipation
• A soft or low voice
• Masked face
• Dizziness or fainting
• Stooping or hunching over

Don’t worry, no single one of these symptoms means that you have Parkinson’s. But if you have more than one sign, booking an appointment with your doctor, to be on the safe side, is probably a good idea.

Who is affected by Parkinson’s?

According to the NHS, most people who are affected by Parkinson's experience symptoms  when they are over 50 years old. Although some people experience symptoms as young as 40!

What is critical illness cover?

We’re always shocked when we find out someone hasn’t heard of critical illness cover. 
In this day and age, this type of life insurance policy should be on your radar.

Critical illness cover is one of the most popular types of life insurance you can get. It will cover you for a list of critical illnesses and definitions, meaning that if you were to be diagnosed with one of these illnesses, and you make a successful claim, your cover will pay-out a tax free lump sum.

A critical illness insurance policy is only going to become more and more important as the years go on.

What does critical illness insurance cover?

Now you know how critical illness insurance works, let’s talk about what it can cover.  Every life insurance policy is different but the main conditions that you’ll typically see covered as standard by a critical illness policy are:

• Alzheimer’s
• Multiple sclerosis
• Heart attack
• Cancer
• Loss of limbs
• Parkinson’s disease
• Loss of sight
• Organ failure
• Stroke
  
  

It’s important to remember that your critical illness policy is always based around your own unique medical history and the conditions vary depending on which life insurance company you’re with.

What could you use your critical illness pay-out for?

The whole reason behind having any sort of life insurance is the peace of mind that, if the worst were to happen, a financial payout could be available. Here are just a few examples of how you could use the pay-out from your critical illness policy:

• Go on the holiday of your dreams
• Modifications to your home (if needed)
• Help with the bills
• Travel costs, if for example, you required specialist care further away
• Changes to your lifestyle
• Help with your mortgage or rent payments
• Leave some of the money to your loved ones, as a nest egg
  
  

If you were to sadly be diagnosed with Parkinson’s, the lump sum from this policy can be used for whatever you see fit, after all the money would be yours to do what you want with!

Is there a cure for Parkinson’s?

Sadly, there is not yet a cure for Parkinson’s.

But if you were to sadly be diagnosed with the disease, there are treatments available to help relieve the symptoms and work towards improving your quality of life, such as:

• Supportive therapies (like physiotherapy)
• Medication
• Surgery
  
  

Working and Parkinson’s

Firstly, it’s worth mentioning that you don’t have to stop working as soon as you’re diagnosed with Parkinson’s. It of course depends on what job you have and what stage you’re at with your disease but you may be able to work for some time after your diagnosis.

However, if you weren’t able to work as normal and your workplace doesn’t offer an occupational sick pay scheme, you may be entitled to Statutory Sick Pay (SSP). If you qualify, SSP will pay you £109.40 per week and only lasts for 28 weeks.

Parkinson’s is sadly a long term illness, so having a long term life insurance policy like income protection in place could make all the difference. If you think you may have Parkinson’s and have an income protection policy in place, you may be able to claim on your cover.

What is income protection?

Also known as ‘sick pay insurance’, an income protection policy can cover up to 60% of your monthly income.

This cover is designed to act as a helping hand, offering you monthly bursts of cash, which could make all the difference if you were no longer able to work due to illness or injury.

The money from your income protection policy could help pay the bills and keep your home running (as close to normal as possible), during a time where money troubles should be the last thing on your mind.

Can you have both critical illness cover and income protection in place?

Yes!

The main difference between income protection and critical illness cover that you should know about is the way these policies pay out. An income protection policy will pay-out in smaller monthly bursts whereas critical illness cover will pay-out in one larger tax free lump sum.

Whatever type of pay-out you think could benefit you the most, if times were to get tough, is the key to figuring out which type of policy you should choose. Plus, with help from an award winning life insurance brokerage (like us), your decision will be backed by advice from experts.

Is critical illness cover worth it?

Thinking about what would happen if you became critically ill is a path that most of us don’t tend to go down in our minds. But sadly, no one knows what’s around the corner and illness could strike at any time.

The tax free lump sum that this policy could pay out, if you were diagnosed with a critical illness could make all the difference for you and/or your loved ones.

Do you need critical illness insurance?

There is no one size fits all for any type of life insurance policy, and different people may benefit from different types of cover. There are multiple different people who may find critical illness cover more beneficial than others, such as:

• Those who have little to no savings
• Home owners
• Parents
• Those who rent
• Single parents
  
  

Use your additional benefits

Most of the UK’s leading life insurance companies now additional benefits* when you take out a life insurance policy with them. Some of the top benefits that different providers offer, include:

• 24/7 virtual GP appointments
• Second medical opinions
• Mental health support
• Four therapy sessions a year
• Help and support from personal nurses, for a range of mental health problems such as trauma, anxiety and depression
  
  

No matter what your level of cover or how long you’ve had your policy, you can typically use these benefits as soon as your policy has started. If you’re worried you have Parkinson’s or you’ve just been recently diagnosed, some of the above benefits could make all the difference.

How to get life insurance

With the help of a life insurance brokerage (AKA us), you won’t need to search for answers to questions like “how to buy life insurance” or “how much critical illness cover do you need” again.

We help find the best cover for you, by getting to know you, your needs, and tailoring a policy to suit your affordability. Click the button below to get started with your free life insurance quote today! 

*Additional benefits are not contractual and may be changed or withdrawn in future.